Tellusgruppen publishes its quarterly report for Q1 2024

Published: May 15, 2024

  

IR - Regulatory

Tellusgruppen AB (publ.) continued its growth in the first quarter. Revenue increased by 14.6% to a level that indicates the company will, for the first time, exceed 500 MSEK in revenue in 2024. Adjusted EBITDA, excluding vacation pay liability, amounted to 5.7 MSEK (7.6).

– There is pressure on profitability due to a persistently low number of children. Furthermore, municipalities have not adjusted reimbursement levels in line with inflation. Our main task will be to increase efficiency without compromising the quality of our operations and to place greater focus on segments that can contribute to profitability with low investment requirements. These include educational resources and meal services,” says Bijan Fahimi, CEO of the Tellus Group.

First Quarter

  • Revenue increased by 14.6 percent to 121.1 MSEK (105.7). Organic growth amounted to 12.7 percent, while 1.9 percent was attributable to completed acquisitions.
  • Adjusted EBITDA amounted to -3.6 MSEK (1.2), with a margin of -5.3 percent (1.8).
  • Adjusted EBITDA, excluding vacation pay liabilities, amounted to 5.7 MSEK (7.6).
  • Net income for the period amounted to -13.9 MSEK (-5.1).
  • Net investments totaled 0.4 MSEK (1.4).
  • Cash flow for the period amounted to 1.6 MSEK (-0.3), and cash and cash equivalents totaled 2.7 MSEK (2.1) at the end of the period.
  • Earnings per share before dilution amounted to -1.0 SEK (-0.4).

Significant events during the period

  • The Väsjön Outdoor Preschool moved into a new, permanent facility with 140 spots in January.
  • In January, the restaurant " Tellusfood " opened at Kungsgatan 22, adjacent to the Thea Linköping Tellusskolan . The restaurant serves as both a dining hall for students and a lunch restaurant for the general public.
  • In February 2024, Tellusgruppen distributed Series TO2 warrants free of charge to the company’s shareholders in proportion to the number of shares they held. Shareholders who held ten shares on the record date of February 20, 2024, were allocated one Series TO2 warrant. A Series TO2 warrant entitles the holder to subscribe for one new share in Tellusgruppen at a subscription price corresponding to 80 percent of the volume-weighted average price of Tellusgruppen’s share on the Nasdaq First North Growth Market during the measurement period from April 24, 2024, through May 8, 2024.

Significant events since the end of the reporting period

  • In early April, Tellusgruppen acquired Matomsorg i Stockholm AB through its subsidiary TF Catering AB. Matomsorg prepares and distributes meals to preschools and schools in the Stockholm area. The debt- and cash-free purchase price amounted to 5.2 MSEK. SEK 1.0 million was paid in cash on the closing date, and SEK 2.6 million was paid through newly issued shares at a price of SEK 6.5 per share, representing 402,477 newly issued shares. The new share issuance results in a dilution of approximately 2.7 percent for Tellusgruppen's existing shareholders.
  • On May 25, Tellusgruppen reached an agreement with the former owner of Språkservice24 to settle a seller’s note of 1.9 MSEK and accrued interest of 0.1 MSEK through a setoff against newly issued shares in Tellusgruppen. A total of 331,286 shares will be issued at a price of 6.012 SEK per share. The new share issue will result in a dilution of approximately 2.2 percent for the Tellus Group’s existing shareholders.

For more information, visit
Bijan Fahimi, CEO of Tellusgruppen AB
bijan.fahimi@tellusgruppen.se
+46 707 167 453

Certified Adviser
The Company’s Certified Adviser is Mangold Fondkommission AB, which can be reached by phone at 08-503 015 50 and by email atca@mangold.se.

About Tellusgruppen AB (publ)
Tellusgruppen is a long-term owner of well-managed companies in the education and child care sectors. The Group currently operates 28 preschools and seven elementary schools, and also provides child care and educational services.

Tellusgruppen was founded in 2012 as the parent company of Tellusbarn (Tellusbarn was founded in 2007) and as a platform for future expansion in the education and child care sectors.

Tellusgruppen's Our business concept is to establish, operate, and develop profitable and growing subsidiaries that offer high-quality, innovative, and in-demand services in their respective fields.

This information is information that Tellusgruppen is required to disclose under the EU Market Abuse Regulation. The information was submitted for publication on May 15, 2024, at 7:00 a.m. CEST, through the above-mentioned contact persons.